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Syria’s Earthquake Caused $5.1 Billion In Damage: World Bank

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(CTN NEWS) – BEIRUT – The enormous earthquake that slammed southeast Turkey and northern regions of the war-torn nation last month caused damage to Syria that, according to the World Bank, is estimated to have cost $5.1 billion.

According to the UN, the earthquake claimed the lives of at least 50,000 people, including roughly 6,000 in Syria. Many thousands remain missing, and tens of thousands are without a home.

The World Bank estimates that the damage in Syria amounts to nearly 10% of the nation’s gross domestic product in a report released on Friday.

Aleppo, in Syria’s north, was the most badly damaged area, with damages totaling $2.3 billion and representing 45% of all damages in the country.

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Syrians wait to cross from Turkey at the Cilvegozu border gate, near Antakya, southeastern Turkey, on Tuesday, Feb. 21, 2023. (AP Photo/Unal Cam)

Syria’s Earthquake Caused $5.1 Billion In Damage

The rebel-held northwest region, home to over 4.6 million people, many of whom had previously been displaced by Syria’s war, was also severely damaged.

Aleppo was followed by Latakia, a government-controlled region on the coast, with $549 million in damages, and the northwest province of Idlib, with an estimated $1.9 billion in losses.

The earthquake has also exacerbated several other issues in Syria, where a nearly 12-year civil conflict has claimed almost 500,000 lives and forced out half of the nation’s 23 million citizens.

The World Bank issued a warning, noting that there is still considerable uncertainty around its initial evaluation.

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Jean-Christophe Carret, the Middle East regional director for the World Bank, predicted that the disaster would result in a drop in economic activity that would severely harm Syria’s prospects for economic growth.

The report’s assessment of damages covers both the residential and non-residential sectors.

And it includes information on both direct losses to buildings and other structures and harm to cultural heritage assets, which can be particularly tricky to classify.

The World Bank stated on Monday that a previous assessment put the cost of the quake-related damages in Turkey at $34.2 billion.

RELATED CTN NEWS:

Turkey Earthquake Causes $34bn in Damage, Says World Bank

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